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Of your choices I prefer the 392. But that's my opinion. Obviously it would be best to shoot an example of each before you buy. Any quality air rifle will last for generations if properly cared for. I have several spring piston rifles but rarely shoot them. CO2 and PCP guns require support equipment to shoot so I'm not interested in them. I want a rifle that can sit in my closet next to my .22 rim fires for years and still be shot in an instant if needed without anything but a tin of pellets.
Edit: I forgot to mention the main reason I like the 397/392/Sheridan .20 series of rifles is their variable power with differing number of pumps. It's a good solid brass construction rifle that can made very sweet with simple tweeks to the trigger. For more advanced tinkerers air valve and striker spring tuning along with making the pump rod adjustable makes them very effecient and fun to shoot.
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the Beeman RS1 Dual-Caliber Air Rifle Combo is only 100$ at walmart and it comes with a 4x32mm scope. I have used the 397 before(had one for a time the someone let me use) and i loved the B4-2 spring guns lasted really well and the Benjamin Discovery comes with every thing you need to get started shooting right out of the box(pump,scope,gages etc) I know i been a pain always asking about gamo oil but i love my guns and i don't what to order oil or mess them up. Gamo oil is for both CO2 guns and spring guns so it most likely aright for my pump gun, after all it's is airgun oil.